Barclays Reiterates an 'Overweight' on Wisconsin Energy (WEC); MI Public Service Commission Approves Increase

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Barclays reiterates an 'Overweight' on Wisconsin Energy (NYSE: WEC) price target of $42.00 (from $41.00).

Analyst, Daniel Ford, says WEC remains a Top Pick in regulated. He reiterates his rating after the Michigan Public Service Commission authorized WEC a $9.2 million (5.2%) permanent electric base rate increase.

In conclusion, Ford said, "Financial flexibility stems from significant free cash flow over the forecasted horizon, providing continued double-digit dividend growth and additional utility-based investment opportunities offering compelling ROIC and what we believe will continue to be an 8-10% total return."

For an analyst ratings summary and ratings history on Wisconsin Energy click here. For more ratings news on Wisconsin Energy click here.

Shares of Wisconsin Energy closed at $39.58 yesterday, with a 52 week range of $27.00-$39.70.

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